I am a Plaintiff in a current Law Suite for Breach of Contract. The Statute of Limitations in New York State for Breach of Contract is 6 years. I filled Bankruptcy (Ch7) several years ago. While I hadn’t commenced the law suite I deemed it as an asset of my Bankruptcy Estate. The US Trustee abandoned this asset (The potential Law Suite). When I was discharged from Bankruptcy I understand that I had full authority to sell this potential Law Suite or start the Law Suite myself. I was in Bankruptcy for 7 months. A potential buyer of my legal action wants to know about the tolling rights. I have told the buyer that I had 6years + 7 months (Tolling) to commence the Law Suite. Is this correct? Can that extra 7 months be assigned to a potential buyer? or is it only I that can take advantage of the 7 months.
There is no tolling under this situation. Moreover, the trustee, in theory, can take the asset back if it is determined it has real value. The case can be reopened.
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